It said it expects revenue to reach almost $3bn in the third quarter. However, most investors didn't care about earnings results.
Looking ahead, the Reed Hastings-helmed company acknowledged intense competition from an increasing number of streaming video-on-demand rivals.
Netflix added 5.20 million subscribers globally in the quarter, well ahead of its forecast of 3.20 million, to end the quarter with 103.95 million subscribers. This is the first time Netflix has recorded more subscription outside of the United States - more than 4 million customers are global viewers. State Street Corp now owns 17,535,737 shares of the Internet television network's stock worth $2,591,946,000 after buying an additional 463,143 shares during the last quarter. Netflix reported lower profits than most analysts had projected - just $65.6 million for the three-month period.
The U.S. segment had a total of 1.07 million net additions for the quarter, while the worldwide segment pulled in 4.14 million net adds.
The overseas market now accounts for more than half of Netflix's otal membership base.
The company crushed Wall Street's expectations for new subscribers.
For the first six months of the year, net adds are up 21% year-on-year to 10.2 million.
"Series cancellations and limited write downs are ongoing, highlighting spotty execution" in the company's original programming divisions, wrote Michael Pachter, an analyst at Wedbush, in a recent report.
"These arrangements are mutually beneficial - our partners gain more customers and can upsell existing subscribers to higher ARPU packages, while Netflix gains more reach and awareness with consumers across a market".
The subscriber bump easily outpaced analysts' estimates of 3.2 million new subscribers, and it was more than triple the number of gains reported in the same quarter past year. But with the share price near an all-time high, continuing revenue and subscriber growth, and modest profitability, the company sees no reason to stop taking on debt. Sometimes those shows don't attract as many viewers as we had hoped, compared to our other content.
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